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Should all of your credit reports have the same informaton? |
I was just wondering should all of your credit reports from each agency have the same information? i just got my credit reports, and every last one of them have different information. I noticed some of the addresses are different some have the same accounts, but different balances should they all be the same? Does this affect your credit score in anyway. If so I how do I fix this? credit reports?: I found interesting information about your answer & options here. http://all-debt-consolidation-loan.blogs... luck! I would worry about erroneous entries on your credit report more than if they were the same or not. This is repairable. Each reporting agency should list an address that you can write to in order to appeal incorrect information or to update old information. Typically, though all three are never correct at the same time. If is very common for your credit reports from the three major credit bureaus (Experian, Equifax and TransUnion) to have different information. This is caused by the different frequencies that the different credit bureaus receive information from your various creditors. Additionally, some creditors only report your account history to one or two credit bureaus rather than all three. As a result, it is common for individuals to have different credit scores from each of the three credit bureaus. Most lenders use a composite of all three credit scores to make lending decisions. If you have erroneous or inaccurate information on your credit report you should contact the credit bureau in question immediately either online or at the physically mailing address listed on their website. You can also monitor your credit using a credit report monitoring service. This will update you on any changes to your credit report as they happen. You can learn more here: http://consumercompare.org/creditreport/... http://consumercompare.org/creditreport/... Some creditors report to all three CRA's, some only report to one or two CRA's and not all three. As for the differing balance info being reported. Many creditors, that report to more than one CRA, do not report to each CRA at the same time. You may have pulled your reports inbetween the time they were reporting to EX and TU (for example) Yes it does make a difference on your scores, but there is not much that can be done about it. As for the addresses, if they are in the personal section of your reports, you might file disputes to get the old, incorrect addresses removed. (keep in mind that if you dispute an old address that is tied to an old in good standing closed account, you run the risk of losing that tradeline, which will hurt your scores) If the creditor is reporting an incorrect/old address, you might contact the creditor and have them update their files. Your creditors usually only report to the credit bureau(s) once a month. If they report to more than one it may be on a different day of the month, therefore the different balances. Not all your creditors will report to all three credit bureuas, so they may have different information at all three. This is normal and there's not a lot you can do about that. They can no longer manually report to the bureaus on request - you used to be able to request a loan be added but that doesn't happen anymore because they can't do it. Credit bureau reports are ultimately for reporting credit information to other potential creditors. They have become a way to price loans more and more based on the score, which is why people are looking at it. But people shouldn't worry too much about minor things - if have good established credit your score will be high at all credit bureaus even though it may not be exactly the same number. The reason you want to look at your report now and then is to make sure it is correct - making sure there isn't anything popping up that isn't yours. |
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